Sustainability

Empowering Our People

Armada Hoffler is committed to providing each employee with a safe, welcoming, and inclusive work environment and culture that enables them to contribute fully and develop to their highest potential. In 2022, we continued to improve our employee benefits, including by expanding our paid parental leave policy. See "Updated Parental Leave Policy" below. We also continued to invest in developing our people. We engaged Rice & Associates to put 62 of our managers through leadership training and announced our second High Performance Leadership program to help ensure we have a strong pipeline of future leaders. Additionally, we continued to make progress in our diversity, equity, and inclusion programs to spread a wider net for diverse talent.

Protecting Our Planet

During 2022, we remained more committed than ever to minimizing our impact on the environment. We took additional steps to further gather and analyze our emissions data to set our baseline in 2022. We continued our LED light conversions for our common areas and units in our multifamily portfolio, which will be fully complete by 2025.

Supporting Our Communities

From our earliest days, Armada Hoffler has been dedicated to supporting local neighborhoods, cities, and towns. Today, we remain committed to working with local nonprofits, academic institutions, and civic leaders to make our communities a better place to work, live, and play. In 2022, this included creating new jobs and supporting local suppliers through projects such as our Southern Post development in Roswell, Georgia. We also continued to support partners such as the Ronald McDonald House of Maryland and other organizations that provide a helping hand to families during trying times.

Learning And Development

We believe our business thrives when our employees are given the tools and opportunities to succeed, which is why we continue to invest in employee education and skill development. Our goal is to provide development for all employees related not only to regulatory requirements and corporate policies, but also ongoing learning opportunities to help our employees build their professional skills and capabilities necessary to meet business needs and advance their careers.

Updated Parental Leave Policy

In 2022, we updated our parental leave policy to include 12 weeks of fully paid leave for the primary caregiver and two weeks of fully paid leave for the secondary caregiver.

Community Outreach

Working with local nonprofits, academic institutions, and civic leaders, Armada Hoffler’s Outreach Committee provides philanthropic contributions to help address areas of significant need in our communities. It also organizes employee volunteering and employee led fundraisers. Employees can earn additional paid time off by participating in community outreach programs each quarter. In addition, Armada Hoffler provides corporate charitable donations including event sponsorships to local organizations.

Awards

In 2022, Armada Hoffler was recognized through several awards, including:

• Globe St. Woman of Influence, Connect CRE's 2022 Women in Real Estate Award: Shelly Hampton

• Virginia 500 Power List: Lou Haddad

• Inside Business 2022 Power List: Dan Hoffler, Lou Haddad, and Shawn Tibbetts

• 2023 Virginia Business and Coastal Virginia Magazine Best Places to Work

• 2022 Coastal Virginia Business Magazine Best of Business Awards, Best Local Company with a National Presence, Best Commercial Builder, and Best General Contractor

2022 CHARITABLE GIVING

$114,618 Corporate charitable donations

DEMOGRAPHICS

11% of executive leadership identify as female

22% of executive leadership identify as an ethnic minority

$9,713 Employee giving

902 Employee volunteer hours

21% of director level or above leadership identify as female

11% of director level or above leadership identify as an ethnic minority

30% of new-hires in 2022 identify as female

23% of new-hires in 2022 identify as an ethnic minority

Employee Health And Safety

We comply with all health, safety, and security laws and regulations of the jurisdictions in which we do business and limit employee exposure to potential safety hazards through proper design, engineering and administrative controls, preventive maintenance, and safe work procedures.

We record, track, and report all occupational injuries and illnesses in our incident reporting management system and encourage employee reporting of job-related injuries. We investigate all safety incidents and implement corrective actions to eliminate their causes.

As part of our enterprise-wide safety management system, we are investing in training, technology, and people. Our approach to safety is grounded in our Corporate Safety and Health Program, which applies to all employees and contractors. It is based on the U.S. Occupational Safety & Health Administration (OSHA) standards.

All employees—from those at our corporate headquarters to those working on our construction sites—receive mandatory quarterly safety training based on the requirements of their roles. Training ranges from first aid, workplace violence, and CPR training to hazardous waste operations, ladder safety, and emergency response training.

BOARD LEADERSHIP & DIVERSITY

As of December 31, 2022, our Board of Directors consists of nine directors, six of whom are independent based on SEC and New York Stock Exchange (the "NYSE") rules for director independence. The Board is supported by a lead independent director. The Board has three committees: Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, each consisting solely of independent directors.

We strive to maintain a healthy blend of director tenure, recognizing that longer-serving directors possess crucial institutional knowledge of our Company and its culture, while periodic refreshment brings a fresh outlook and contributes to Board independence and oversight. The average tenure of our directors is nine years.

We prioritize Board diversity and are mindful of the many ways the Board benefits from receiving a wide range of viewpoints and perspectives. Currently, one of our nine directors self-identifies as a woman and two self-identify as ethnically diverse.

You can find more detailed information about our Board’s unique set of experiences and qualifications and Committee Charters on our website.

Stockholders may obtain a copy of our 2022 Sustainability Report on our website at http://armadahoffler.com/sustainability. The information contained on the Company's website is not incorporated by reference into this Proxy Statement.